Credit Where It’s Due: Your Right to a Refund
CCW is campaigning to better protect business customers financially, through our Credit Where It’s Due campaign.
We have been working with Ofwat to help make changes to the rules around business protections and important steps have already been taken. Recently Ofwat have made changes to the rules around business protections in England. One of these changes is a requirement that retailers return any credit that customer’s hold, within 60 days of them switching water retailer.
If you have chosen to switch to another retailer, the process should be as smooth as possible, which should include your credit balance transferring with you. From 20 April 2022, your retailer is required to make sure this takes place. When letting your retailer know that you are switching away, this is a good opportunity to also let them know how you would like your credit to be refunded. Having the correct payment details for you will make sure you receive this well within the 60 days permitted under the new rules.
Retailers are also obliged to let their customers know about the right to receive a credit refund when they switch. We will be working closely with retailers to make sure they are communicating this clearly, and that businesses are not encountering any difficulties getting their refund.
The rule change applies to business customers who switch from 20 April 2022, but this shouldn’t mean that those who switched before this date should be out of pocket. If you didn’t receive your credit, this could be because your old retailer couldn’t get in touch with you to arrange this, or they didn’t have your account details. If you are in this position, we would urge you to contact your previous retailer as soon as you can to request a refund.
In Wales, this requirement will only apply to business customers who use 50 megalitres of water per year, as they are the only ones able to choose their water retailer.